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James 0:01
All right, what’s going on guys? We are back with another episode of the after hours Podcast. Today we have a very special guest. We got Steve, he was one of the junior mods over at MIC. So Steve, welcome to the show.
Steven 0:14
Thank you. Thanks for having me. Yeah.
How Did Steve Get Into Trading?
James 0:16
Of course, man, of course. So I guess we like to start it off with the usual, you know, how did you kind of get into trading? And how did you come to find MIC?
Steven 0:25
Sure. So I, I guess back in summer 2017. I had gone to like Croatia and Bosnia, I got a bunch of buddies out there. And they were all like mining and trading like cryptocurrencies. Right. Yeah. I didn’t want anything to do with this. I was kind of like, what is this? You know, I didn’t know much about it. And then they kind of brought me up to speed. And then they actually, like, opened up an account for me like, like an app. And they were like, Hey, you got to try this. Just put, like a few $100, you know, and I was there, like, for one of their weddings. And I was there a couple of weeks. And like, every day, like this is when like Bitcoin was like six or seven grand, you know, for 20k Peak 2018 ish early. So every day, like it would be up like crazy. You know, it was running up. So I kept like, Okay, well, let me put a couple 100 more and a couple 100 more. And next thing I’m like, Well, let me just put like two grand, you know, yeah. So I’ve like, got like a couple grand in there. By the time it’s been a week, and I’m just watching like, 300 a day. And I’m like, This is crazy. Like, I can’t believe this is like happening, you know? So. And keep in mind, I don’t know anything about trading at all.
James 1:40
Did you have a retirement account? Like, do you have any sort of investments that way or just just a time?
Steven 1:44
At the time? My story’s a lot different now. But at the time, like, I thought I had a pretty good job. I was doing like real estate development in California. And yeah, so I, you know, money wasn’t really an issue, but I just didn’t know anything about trading. So I, you know, like I said, I had some money in there. And he kept going up. By the time I left that trip. I mean, I don’t remember, but it was up like some crazy amount. I was just like, psyched. I was like, This is crazy, you know? So then I get back to the US. And we’re just sharing everyday. I can’t believe this, you know, so this is like, I don’t know what month it was maybe August, September. I’m not exactly sure. But I remember the date when it started to crash that was like around Christmas, right after. Like, I know that day. So the months leading up to that, you know, it was just like, I would put more and more money fine. I’m like, Okay, let me put five grand and you put eight grand and it was just put money. So I had like, I don’t remember how much I’d put. But at one point right before Christmas, my whatever the initial it was, like 10 or 12 grand? I don’t know. But it was like 26 grand. Yeah. And I’m just like, I mean, at that point, it’s kind of like a pump. It is a really like a pump. It’s the mentality of what stocks get pumped. And these guys just chase it. So I’ve been there. I know. But the thing is, you’re never going to sell it. I mean, not for me when you’re greedy. You just hold it.
James 3:10
Like all the doge guys right now, doing the same stuff.
Steven 3:12
So like you hear a rumour it’s gonna be 100 grand. And you’re like, Well, I’m not ever selling. Yes. I mean, this is my new life. I mean, I just every day I wake up and there’s another two grand in my account. It’s it’s like, man, yeah. So Christmas comes and it starts to fall. And it was right around Christmas or right after it starts to fall. And I’m kind of panicking. I’d wake up in a one or two grand was gone. And I wouldn’t be waking up at 5am and checking, you know, the deal. And I couldn’t sleep and I was just like, what’s going on? So I started following some groups online, on like, I don’t remember where Facebook or Twitter. And they’d be like, Hold hold hot or don’t like, never let this go. And I’m like, okay, but the thing is, when it would crash, I would just freak out and sell it. But then the next day it would pop. So what would I do? I would buy it back classic backside mentality. Yeah. And it was back it’s you know, that’s why I know what happens to these guys when they don’t follow in my see, and they’re just getting pumped. Does it happen to me? So long story short to get past this. I waited till my account had like three grand like,
James 4:21
Me and ripple. That was me and I don’t like to talk about it.
Steven 4:25
No, I know. So I don’t even share the story ever. But you know. So luckily, it wasn’t like my rent money or anything but still watching that money. Like dwindle is like heart you know, so I stopped and I like decided I don’t care what happens I’m never putting money in there again. And I started like, like I knew Bao through mutual friends like we weren’t ready for. But like 10 years ago, we had some friends and I went to his place for New Year’s party. So like I have on Facebook. So I had seen he started a group and I was like, okay, like maybe I should join this group. But unfortunately, like I didn’t know him well, so I wasn’t sure like, Should I do this group or try crypto? I didn’t know what to do. So I tried a little kind of crypto first and I didn’t do well for six months, whatever it was eight months. And then, about two years ago or a little more than two years ago, I’m like, Okay, I need to just join MIC and like, see what’s going on. Because I’m not having like any luck, right? Yeah. And I mean, I knew I didn’t want to be pumped to or I didn’t want to follow, like signals, or works in any way. I just wanted to learn like, I want to do it myself. I don’t want to depend on anybody because I had been burned so badly. Like, if I didn’t listen, anybody’s advice, I probably would have sorted when it started a dip and just made good with 20 grand or whatever. But yeah, 100% listening to people, and yeah, that’s better.
Why People Get Caught up in the Community of Bitcoin
Harry 5:48
I just think with a lot of these things, it’s like, it gets to a point where it’s like, it’s not that you’re losing money, or it’s not anything like that. I think it’s that a lot of people get caught up in the community of the Bitcoin or the GME. Yes. Where it’s like, if you sell, you’re almost saying to the community, it’s turns into like a mini cold, where you’re out in the cold. So only when it’s dipping? Do you have the issue of oh, it’s losing money. You also have the issue of wow, I’m out of the call. I’m no longer a Bitcoin er anymore. And sometimes that I find can be like, scary harder.
James 6:33
You bet it as, as we’re recording this, I just got a YouTube notification that just said, do not sell your safe Moon, which is just some other like, stupid crypto that’s being bombed. Just wrapped up.
Harry 6:46
But Dogecoin has a community. I like GME has a community still, they all have AMC, they all have little communities. They all do their own research of why it should go up why it should do this, why it should do that. And when you sell, everyone’s like, No, you’re not part of the community anymore. Like you’re kicked out. Like you’re booted out, like you’re You’re terrible. You’re a disgrace. I think that can also be like, you know, some of the reasons why people aren’t selling because I think when it goes down, the majority of people know that they should be selling.
Steven 7:20
That was my instinct, like just sell it 100% 100% But because you got the boys every day that you’re talking to that you’re checking up on. Yeah, like you assume they knew more than you.
How Did You Decide to Join a Crypto Trading Company?
James 7:32
Yeah. I mean, I mean, Steve is kind of a good example of like, I posted about this and after hours, and we talked about it often, but, you know, with crypto, there’s going to be almost one shot one trick ponies that make a shit tonne of money on the pump up. But 90% of the time, you know, people who made money are going to slowly bleed out and give it back because they truly don’t know what they’re doing. And that’s kind of what happens on you. It’s what happened. And then you go on and you find real education. And that’s when you realise like, okay, there is a future in investing and trading. But there’s more to it than just getting in something huddling and praying to the Lord Shiba, you know that it’s gonna go to the moon kind of thing. Right? So so that’s pretty cool. So then how did you come to decide to join MIC? What was the final kind of pushed just you weren’t making it? Or?
Steven 8:20
Yeah, like after the crypto thing I decided like, Okay, this is just gambling. Like, I don’t want anything to do with this. I mean, you know, luckily, it wasn’t my like mortgage money. I mean, I had money. So it wasn’t like, but still, like I said, I mean, it’s still it’s painful. Yeah, so I was kind of following Bao, but I was kind of like, trying to learn Forex, too. I just I didn’t know like, Oh, yeah.
James 8:45
Don’t let Alex Watch this shit. He’ll fucking fly to you.
Steven 8:49
There’s no story that that was like, eight months of not getting anywhere. And then finally, I need to dedicate all my time and energy into learning within MIC. Yep. That was like two years, maybe a little more than two years ago. Yeah. And yeah, and that’s kind of when things started. Obviously get a little brighter for me.
James 9:09
Now, are you married? Are you married?
Steven 9:11
No im single, actually, my girlfriend’s right here.
James 9:13
Good for fucking Yeah, now hold you 44. So now, while you were doing all of this, did you find like your parents or like friends, anyone in your life? Did they approve of what you were doing? Or are people telling you like, you’re an idiot? Or like, what was what was kind of like the outside perspective on everything you were trying to do?
Steven 9:35
I don’t know. I guess like, I wasn’t really surrounded by people who were training. People didn’t really have much of an opinion. It was just kind of like, you know, if you’re making money, that’s great. And I think some of them also kind of wanted to learn too. So I had a pretty supportive like group around me.
James 9:55
Really cool. That’s cool because most people don’t like Harry, we’ve talked about this like you Most people we’ve had on the show, most people’s families are kind of like, What the hell are you doing? Like, especially friends, too? They kind of think of like gambling or no idea.
Harry 10:09
Yeah, like, Yeah, I’ve been through it with like, friends with family. I mean, now it’s to a point where like, Yeah, I’m, like, quote unquote, successful with it. So I mean, the people, I mean, in my perspective, the people who didn’t really support me from the beginning, like, I don’t really have much to do with them anymore. But I mean, that being said, like, I still understand their perspective, so I’m cool with it. I get it. But, I mean, I did go through it. Definitely with that. I mean, I think like, so once you joined MIC, so you join MIC, you know, you watch the videos, like, what do you think it took for you to, like, start getting on the right track to start kind of, you know, just what was it that kind of made it start getting a little bit brighter?
Steven 10:58
So I guess like, unfortunately, I had to unlearn like, a lot of bad mistakes and just kind of, you know, the wrong like I was using trading VR using other kind of charting platforms. And now I use the awesome Cobra and all that and it’s great. It’s just like that transition was took a little time because I mean, it’s, it’s better to just come like with a clear head and and not knowing anything then to come with those bad habits. So once I really like got rid of those bad habits and started just really following them, I see way, things started getting better. I stroked my main struggle. I think it might be common with a lot of people, but really like the setups and all that, and it’s kind of like which setups are working in which market what market? Are we in like that stuff? You could I mean, anybody can really grasp that and pick it up really quick. I think if if they dedicate the time, right? Yep. And they’re really serious about learning. The thing that I struggled with, though, was like discipline. So be like FOMO, revenge trading, you know, that kind of thing. And I was, I did something smart as I listened to bow and I just told him one day like, Hey, tell me what to do here. He’s like, look, put X amount of money, get Cobra, get off, start learning. I’m okay. I’m just gonna follow these directions. Yeah. And he’s like, Setubal max loss, do this, this. So I did. So luckily, I revenge trade. I’ve lost, like, you know, my pool and all that. But I’ve always had like a max loss. I’ve always been safe. I mean, even now, my max loss is only like, one or one and a half times on average daily wage. And I keep that if my losses are getting close, I just try to trade smaller now.
Trading Is Such an Ego Thing
James 12:45
It’s so funny. It’s so funny. Like trading is such an ego thing where, like, you almost don’t want to figure it out. Yeah, you don’t want to be wrong, you don’t you want to figure it out on your own. But like, I always kind of like to revert it back to like, least on my personal side, like, I like to refer back to like, barbering. And like, you know, when I was coming up, and like learning how to cut hair originally, like, I was listening to the guys who had been doing it for 20 years, and taking their tips on how to like, be better, make more money, do this. And it’s funny, like people join in my see, and then like, they choose to ignore the things that like guys like, Hey, are you guys like Alex? Oh, like the stuff they say? And they like, Oh, but I need to figure it out on my own. It’s like, it’s funny, if you just like you said, if you just listen to them, like their basic basic advice, you’re gonna be 1000 times better than the average guy who just is winging it right off the bat without even like actually trading, you know, so. So it’s funny, and that was that that was like the pivot point for you just kind of listening to those like, MIC the process itself.
Steven 13:40
Basically, if you could follow directions well, and don’t like you said, I mean, you can’t really have a huge ego in this game. You’ve got to be like, like, we see some members and you give them some quick advice, or they hear bows, advice, or whatever. And they’re kind of like, offended. I’m like, dude, like, you gotta like Be humble. Come to this, like, I don’t know anything. I need to be a sponge and learning. I agree. And yeah, if you have an ego, you’re just you’re not going to do that. Well, here. Yeah, you got to humble yourself. Like every the best mods and you guys, you guys are like, I’m learning every day. You guys are like trading amazing. It’s like I would be thrilled to!
James 14:15
We’re learning every day. That’s the funny thing. Like we like, Carrie and I talk about all the time we’re learning new shit every single day that we’re like talking to like, like, every time you talk to guys like Alex or Bao you’re picking up the golden nuggets without them even knowing him. Like they’re just dropping them behind. It’s amazing.
Becoming a Full-Time Trader and Travelling
Steven 14:33
Yeah. And then I don’t know if you guys know, but I did something pretty amazing. Kind of related to trading August, I guess it was August of 2019. I had been with him I see whatever, four or five months and I had, you know, kind of mistake and I’m just like, hey, I’m just going to do what I love to do and travel and I just kind of quit my job and all that and I left and I’ve been travelling full time ever since.
Harry 14:58
I wanted to get into that. I wanted to, I didn’t even know. I was gonna bring it up. So, yeah, so you ended up kind of becoming like almost like a full time traveller as well as trading as well. So like, maybe you want to touch on about that as well. Like, what’s that? Like on the on the road and shit? Like, that’s pretty Yeah, like you’re in Turkey right now, aren’t you?
Steven 15:21
I’m in Turkey right now. Yeah. It’s amazing. I mean, it’s, uh, it’s just, it’s amazing. Like, I want to say five or six years ago, I spent six months in Asia and Taiwan. And I was travelling around and learning Chinese for fun. And so I knew that I love travelling, I just travelled a lot in general, you know, but I was like, Man, I just want to do this like full time. I mean, I just want to it’s just my dream. I just wanted to travel and I had a bunch of buddies and that I mentioned in Croatian, Bosnian in Europe. And I’m just like, I’m just gonna go, I’ve been all over Asia, I just want to go spend a bunch of time in Europe. So yeah, I said, Hey, and I knew because when I was between classes in Taiwan, I knew that for that month I like was I became depressed. Like, if you don’t have any goals, you can’t just like travel and have fun and think that everything’s gonna be great. You’re gonna get bored, like, you need to have goals and something to do no matter if you need the money or not. Yeah, so I was like, Yeah, I’ve got enough money for, you know, X amount of time years. And I’m going to sustain myself basically, with trading. Hopefully, if I get to tell everyone that was kind of my thinking. And really, I mean, coming from California, like, I don’t need much to live in Europe. I mean, two or three grand a month. I’m pretty good. You know? Where you are, right? Yeah. Yeah. Yeah. So I like left in the first six months. I mean, I was everywhere. I was just having a ball like I was with my buddies in Croatia, then. I can’t I mean, I always miss places, but it was like, Germany, Italy, Spain, Portugal, target sick. Bosnia, Croatia, Dubai. Dubai was sick. Oh, yeah. Montenegro, Hungary, Greece, Greece was crazy. So yeah, like, and now I’m in Turkey. I’ve been here probably. So like since lockdown. It’s little. Since the pandemic, it’s a little tougher. But I’ve still been in Malta, Turkey, Bosnia, mainly with friends and my girlfriend, stuff like that. But it’s just crazy. Like, next month, I’m meeting one of my buddies, and he’s gonna go to Serbia, we’re going to meet up sick. If Stefan is there, he’ll meet up with us too. But so like I said, I’ve got buddies across the border in Boston, so I’m gonna hang out with him a while. In my other buddy from Vegas. He’s a professional poker player. He’s going to meet me in Europe. And we’re going to hit a couple of countries for a couple of months. And then I’m excited to get back to the US and visit with like, friends and family for a couple months. Amazing.
James 17:44
Now, is it hard for you to trade like on the go like that? Or because you still make a lot of time to trade? So like, is it? Is it challenging? Or?
Steven 17:51
Yes, so like, not really like what I do. I mean, if I’m in transit, obviously, then there might be a day here and there. But what I do is it and I’ve heard a lot of people talk about this, but I really like I like to stay in Airbnb. I’m like with my girl now or I’m with my buddies in some countries. But when I go to an Airbnb, and I’ve never been there, I’m like, how big is your TV? And I come in there, and I check first I set it up, make sure it works cool. I’m like, oh, yeah, I’ll take it. We’ll try for a week, how’s your internet, you know, and I tried for a weekend, like it like in Malta was in one place for two months. And that was pretty cool. But I’ve got to, like, make sure everything’s cool. I like to set up my laptop to a big TV. And I’ve got kind of my charts there. And it’s pretty much like, you know, I mean, you can see a lot of charts, I focus on four on every tab and I’ve got like four tabs, you know, so I got to put them together. I trade one or two at a time. And it works pretty well. I mean, I’m used to it.
The Dream of Ultimate Freedom
James 18:48
I mean, you’re pretty much living like the like a lot of traders dreams you’re doing you became like profitable, you started making money. And now you’re just like travelling all over the world. And like, that’s really freaking cool. Like, I think a lot of guys that get into this industry in this job because they that’s what they want. Like that’s like, ultimate freedom and like you kind of have that.
Steven 19:09
It’s a dream come true. And anybody who’s like on the fence about MIC, And I mentioned this today in the YouTube video, like, just check out my Instagram. It’s travelled guy, travel guy with a D. And you could see I mean, it’s it’s real life. You know, this has been what I’ve been doing almost two years now.
James 19:26
Amazing. I’m fucking jealous, bro.
Steven 19:30
Come on any time, James.,
James 19:32
I did. I’ll take you up on that for sure. Because honestly, once once this COVID shuts over in like, I think one of the shining things of MIC is like the meetups and like meeting with other traders and like going places like once it’s over, man. I’m going travelling for sure.
Steven 19:48
I know. So I was actually kind of pitching to Alex a couple months ago. I’m like, Hey, man, once things start opening up, like I will be all over if you want to do meet up here. They’re like all Help you host like, whatever you need me to do. I’m like travelling. I know so many people now in so many places and, and I’m actually teaching a couple of my buddies, the same ones who are mining I’ve been trying to teach them.
Harry 20:12
Definitely tell them to join and be like, boys.
Steven 20:17
Yeah, no, actually watch my friends didn’t join from the US. One of them like sign annual I was like, hey, try it off for a month or like, No, I already signed an annual I’m like, Cool. Like, see my smart guy? And they’re like, Hey, I’m just gonna, you know, give it a try.
Harry 20:34
Love that.
James 20:36
It’s like inspirational shit. And like, I guess, one of my last, one of my last big questions was like, if you were talking to like people who want to do what you’re doing, you know, it obviously takes some balls to like, even do it to like, get into trading, and then travel the world and basically be like, Well, I’m gonna live off this and like, do it. What was like, the biggest like, piece for you that got you like, if you had to tell someone like, you know, before you do this, like, you know, these are the steps. What would it be for you?
Dealing With Losses on the Road
Steven 21:01
Oh, yeah. So this in I’ll try to like compact it. But I mean, you can imagine I went through a lot of things, right? Yeah. Like I downsized. I mean, really, you’ve got your nomads. So you’ve got to like, get rid of your attachment to stuff. Like my most valuable thing right now is like what I’m looking at as my laptop. Yeah. And I’ve got another one in Boston. This one has a problem. I had like a really nice Durango. I just gave it to my parents. And I think I owed like 20 on it. But it was worth almost 30 I just said like, Here you go. Yeah. I mean, they’ve done a lot for me, right? But yeah, of course. I don’t wear like nice watches. I don’t care. I just I only trade for freedom.
James 21:44
Fucking amazing.
Steven 21:45
Yeah, don’t get me wrong, James. Like when I settle down. Maybe someday I want to sleep for like years, but I’m travelling everywhere. Yeah. So the details, you know, I had to pin down a lot of things like, you don’t want to be paying conversion fees. So you need to get some good credit cards that pay you 2% And have free conversion transaction fees in any country. Yeah, that kind of thing. Every month, I just charge and then I draft from my bank. So like, I don’t ever have to pay fees, I keep x amount of cash, or I could go the ATM, but they always get you with fees. So like little details like that. I minimise all my expenses. My only expense really now is like my, my cell phone. And I’ve got like an international plan. Yeah, 70 books. I’ve got data anywhere in the world. Nowadays. Yeah. So just some of the details. I mean, it’s anybody could do me any time and we could chat
James 22:40
about that as well. You should make a video on this. Because like, honestly, I’d love to because like I love travelling before for COVID and shit. Like, that was like, what makes me happy? Yeah. And you should make a video on this. Because I know there’s a lot of members that travel around like, like, I mean, I know he goes all around with his wife to like, it’s pretty cool. I think like, yeah, for sure. And I think that’s like, you’re you really are like us, I hate to reiterate it like you’re living like the dream of most people. And I think that’s something you should be proud of. And I think that’s something that you shouldn’t shouldn’t sleep on. It’s pretty cool.
Harry 23:11
I think one time I keep down. Yeah. Oh, no question that I have is like, you know, I’m sure it’s happened to you before where like, I mean, and I’m just curious for because myself, like when I start travelling, like, you know, I have a girlfriend as well. And like, we definitely want to go places and stuff like that. How did you kind of deal with like losses on the road, you know, like, you’re on the road, you’re travelling, you know, maybe it’s a day before you trade or maybe it’s a day where you’re going to the beach and you have maybe a nice day planned, and then you take a loss. And because like how I wanted to do it is that I was like, fuck it. Like I’m not trading at all when I’m travelling, because I’m going to be like, Yeah, let’s pay for that. Right. But like, you take a loss on the road, like, maybe give me a little bit of insight on like, kind of like the mentality that would go through your head during that.
Steven 24:00
I would say sure. I would say like, like I mentioned, when I started and I guess more like last year I had a issue sometimes with with discipline. Yeah, so it’d be exactly what you said is I would like I used to play poker a lot. Yeah, I would tilt right. I would tilt and I’d be like, Oh my god, like, like, you know, it stopped shot. Now the trade works and you’re like, Yeah, jump back in. But now it’s ready to go back, you know, so like, it would stress me out. So basically, I really like I watched a lot of stuff on the psychology a lot of Austin’s videos helped me his webinars because he talks about the psychology a lot. But really, I used to have a bigger max loss like two or three times or whatever it was, and I reduced it to like, it’s probably around one and a half or something like Yeah, so I think that helps me a lot. And I mean, my my girlfriend has seen it. It’s kind of like, you know, she’ll be like, Are you down today? How much? I’ll be like, it can never be that much. That’s all I say. Yeah. So I tried to catch where I could never really care that much. And I try to look at the big picture results like week or the month. And I know that some days like nothing is just going to work the way you want it to. So for me, it’s really keeping my losses down to that kind of average profit day and a half of a max loss. And I try really hard when it’s like half that just either stop, you know, or wait really small, like I said, and if there’s no way plus just, she’ll see me like, I’m like, I’m done looking at screen charts today.
Steven 25:38
Yeah, but I’m pretty good at it now. Like, we would just cook dinner and her you know, some of our family will be here, we’ll just hang out, and then I just kind of tune in. Yeah, the thing is, like, I learned a little bit of this when I used to play poker, because I actually played full time poker when on PokerStars when the economy was bad, and like 20. Yeah, I met my buddies in Europe, right? We used to play sick. So like, whenever I lose, I mean, think about this. Like, if you made 500 bucks. I know for you, you guys. This isn’t much, but if I made like, 500 bucks. 200 Yeah, I guess I’d be mad. But then if you reversed it, and you lost 200 Then you made 500. You’d be thrilled.
James 26:25
Yeah, but that’s a good, that’s a good way to put it. Yeah, the order
Steven 26:29
Which it happened is really irrelevant. I mean, you’re still up 300 bucks, it didn’t really matter. Yeah, yeah. So why should your weekend be like ruin? So I try to kind of keep this perspective. But no, sometimes, you know, so really.
Harry 26:44
The max loss was what kind of helped keep you on track and be able to kind of like tame you in order from getting to that point where you are super stressed out or getting to that point, like, because I guess you kind of know your own limits yourself. So you’ve said, Okay, I have this max loss. If I go over this, that’s what’s going to stress me out. That’s what’s going to
Steven 27:03
Exactly. I mean, once you know what that number is, like, if it stresses you to lose 500, then make your max loss a little less. Yeah, I mean, if you can live with like, losing whatever amount and, you know, think of a I mean, I know on MIC, some of the mods will see like, two times your average.
Harry 27:22
average good amount that’s probably around mine.
Steven 27:25
Yeah. But for me, I just find tuned in, I’m like, Look, if I get to have this, I’m going to trade smaller. I’m going to close the screens. So like for me, because I have you guys have, you know, 10 times better discipline than me. So I know that I need mine a little tighter, and I need to be trading smaller when I get close to that. Yeah, that horse. I don’t I don’t want to. I tilt when I lose two times, you know.
James 27:47
Yeah, understood, I’m the same way I have that number in my head that’s like, I made videos on it’s like, if I lose more than x, I’m gonna feel like a piece of shit. And it’s gonna ruin my day. It’s gonna annoy me. So my number is way below that. So that way doesn’t affect me. And I guess so. I mean, we’re coming up on our 30 minute kind of window. But the last thing that popped in my head that I’ve kind of wanted to touch on, so you’ve been a professional gambler. With poker, and you’ve been, you’ve been a professional trader. So what are like, give me like, What a similarity and both and something that is maybe a misconception that people see. And they’re like, Oh, you’re just because I when I tell my girlfriend’s parents or family or whatever they’re like, oh, or is it not gambling right? Now? What’s, what’s something that’s the same? And what’s something that’s different between.
The Similarities Between Trading and Poker.
Steven 28:33
Something that’s the same would be like risk reward ratios? And a lot of the psychology and mental aspects of it, right? I mean, in poker, it’s all it’s everything is like, what do I put in? And what am I, you know, possible words, and this is kind of a similar way to think. Right? So I would say that’s an in poker, you can do the same thing you could have, you could have a bad beat, and then you could tell him, you could just go nuts and lose your back. Things happen. Same thing in trading, right? Things that now that on the other side of that, the exact same thing you said, James, I mean, I used to have girlfriends and like, once they found out I was playing poker, like it was over. Like when I say I trade actually, it’s a lot more respectable, I think, and I find from people around playing poker, like my parents seem pretty proud. They’re like, hey, our son is investing and trading and their friends are like, cool. When I was playing poker, they’re like, because the degenerate buddies.
James 29:36
I mean, I have professional friends and they’re kind of gamble like sports professional and like, you know, when I tell people they do that they make they make a shit tonne of money, you know, but I tell people that they’re like, What lose this man? What do they do?
Steven 29:50
But what I explained to people too, it’s like anything in life is a gamble. If you start your own business, it’s a gamble. If you do anything, it’s a gamble. I worked in Don’t see development. We used to do shopping malls and the big they bring their life savings open a restaurant and they fail. I mean, this is this is gambling. Anything you do in life getting a higher degree is gambling. I mean, is it going to offer you enough? How much do how much debt? I mean anything is gambling getting married. It’s all a gamble. So if you could manage your risk carefully, and generally you’ll be okay. And that’s what it’s all about. It’s really managing your risk. And that’s what they think.
James 30:30
Yeah, it doesn’t have to be this
Harry 30:33
Like you’re born pretty much you’re born with nothing. I mean, unless you’re like really well off like crazy. I mean, you’re born with nothing, and you die with nothing. So if me and you might as well do what you want. That’s how I exactly do it.
Steven 30:46
And let me just touching on what you said, Harry, I know, we were short on time, but not going to grow. 15 years ago, I moved in with my mom. And her plan was I’m gonna now travel the world. Yeah, well, she was around 65 70. And she started getting dementia didn’t get to do that. Right. So we ended up taking care of her for about 10 years. And I moved in and we did all that stuff. Till she passed. So yeah, so when I told my mom a couple years ago, I’m gonna just travel and live my dream. She was like, You have a great job. Why do you want to leave? And do it when you retire? And I said, Look, you don’t know what’s going to happen tomorrow, that you have a chance to do it now. So I’m going to do it now. Yeah. And plus, I assume when I’m retired, I’ll be taking care of my parents anyway. So am I going to time when I retire? Like if you have a dream, you gotta just do it. If you fail, it’s okay. I love what you got to just love that.
James 31:38
I love that. I want to fucking I want to end it on that ship because that is like a wish fucking Disney. That is awesome. I love that shit. Well, I want to say man, thank you so much for coming on. I was awesome. And you know if anyone wants to reach out, you know, he’s in chat. He’s one of the junior mods and he’s an upcoming sick trader. So reach out to him any time.
Harry 31:59
All right.
Steven 32:00
Sounds good. Yeah, I hope so many guys out here travelling with me sometime soon. Perfect.
James 32:05
Oh, yeah. That was awesome.